- How can men get rid of pimplesKaran-Bipasha open to working togetherPoster of Vidya Balan's first Marathi film outTom Hiddleston in 'advanced talks' for 25th Bond movieMahesh Babu takes 'full responsibility' for 'Brahmotsavam' failureIs Navya Naveli in love?Sheenojis: Charlie Sheen releases personalised emojisHot tips to stay fit and healthyReview; 'The Angry Birds Movie'Veerappan movie review
The Rio Olympic Games should be postponed or moved "in the name of public health" over the
Landlord's PAN must for tax benefit if rent exceeds Rs 1 lakh Last Updated : 18 Dec 2013 03:33:41 PM IST Quoting PAN number of landlord is must if the annual house rent exceeds Rs 1 lakh (File Photo)
Quoting landlord's PAN is mandatory if you pay more than Rs 1 lakh annually towards house rent.
If the PAN is not furnished then it would not be possible to claim tax benefit under House Rent Allowance.
"...an employee claiming exemption from tax with respect to House Rent Allowance received is now required to report the PAN of the landlord to the employer, if the rent paid by the employee to the landlord exceeds Rs 1 lakh per annum, along with the rent receipt," said Minister of Sate for Finance J D Seelam in a written statement in the Rajya Sabha on Tuesday, Dec 17.
He quoted a circular by the Central Board of Direct Taxes (CBDT) on the matter of deduction of tax at source during the payment of salaries.
"In case the landlord does not have a PAN, a declaration to this effect from the landlord along with the name and address of the landlord should be filed by the employees," he added.
In a separate response, Seelam said the number of tax assesses have increased manifold. In the past 15 years, the number of effective IT assesses has increased by more than three times from 1.16 crore as on March 1997 to 3.63 crore at the end of March 2012.
He also said 42,800 persons other than companies admitted to a taxable income exceeding Rs 1 crore.
"The Cabinet has approved the cadre restructuring of the Income Tax Department in May 2013. The implementation of the same is under progress," he said.
Additional 1,080 assessment units to be manned by around 20,000 more personnel have been created to meet the increasing number of IT assesses, he said.
Source: IANS, Other Agencies, Staff Reporters
For Latest Updates Please-
Join us on
Follow us on
Post Your Comment (0 posted):
Actress Vidya Balan says she is a greedy actor and doesn't believe in restricting herself
- SRK takes flight back from work to avoid traffic!
- When Karan Johar got emotional on 'Befikre' set!
- In coming times, all cinemas will be multiplexes: Big B
- Karan-Bipasha open to working together
- Daniel Craig 'exhausted' from playing James Bond
- Poster of Vidya Balan's first Marathi film out
- Harman Baweja's brother's 'personal' video leaked online
- Sonu Nigam to undergo knee surgery on June 7
The number of people in Britain who have tried e-cigarettes has almost doubled in just two
Virtual dog to teach robots to perform tasks intelligently
The 'World's Ugliest Dog' won a Hero Award for helping people with disabilities
Bones of ancient, extinct species of bison uncovered
Hundreds witness Mercury transit in Delhi, scientists in Srinagar disappointed
Leading astronomers to see 'Transit of Mercury' from Srinagar
In a bid to heat up the premium flagship smartphone segment, Taiwan-based company HTC on T